NRE Account ? move your money to and from India online

The HSBC NRE Account is a savings / current bank account held in India, in Indian Rupees.

You can deposit your foreign currency earnings into the NRE account by transfers from your country of residence or transfers from other NRE accounts in India. The money you deposit in foreign currency is converted into Indian Rupees, as per the prevailing foreign exchange rate. You can always convert it back to foreign currency and repatriate the sum out of India, since both principal and interest earned in this NRE account are Freely repatriable.

Key features - NRE account:

• Send money to India
  You can send money to India for FREE*!
  
  FastCLICK
  You can send money to India for FREE* through Internet Banking. Moreover your money gets credited into your HSBC NRE account in India in just 3 working days^**!
  Know more about FastCLICK


• Tax free for NRE***
  Interest earned on your deposits in this account is tax free*** in India.
• Access your NRE account from around the world
  
  International ATM / Debit Card ^#
  - Withdraw money at over 1 million HSBC / VISA / Plus ATM's worldwide
  - Shop at over 26 million merchant establishments across the world
  
  NRE Internet Banking
  Access and track your NRE account 24x7, from anywhere in the world
  - FREE^## funds transfer to any bank account in India
  - Free delivery of Rupee Drafts
  - Request for E-Statements for your bank account
  - Create and access Fixed Deposits
  - Stop cheques, order new cheque books
  Know more
  
  Phone Banking
  Enjoy quick and efficient banking experience by using HSBC Phone Banking
• Pay bills for services availed by your family in India
  Pay the utility bills of your family in India - such as electricity, telephone and mobile bills through Internet Banking.
  
  You may also set up standing instructions to manage your monthly payments like utility bills.
• Your family in India can also operate the NRE account
  You can appoint any of your family member as Power of Attorney for the account.
  
  The power of attorney holder will receive:
  - FREE ATM / Debit card^
  - Cheque book
  
  Your family can thus access your account for all their financial needs:
  - Withdraw money at HSBC ATMs or shop at establishments across India with the ATM / Debit card
  - Issue cheques for payments in India
  - Deposit foreign currency cheques in your name to your account
  Download the power of attorney form.
  
  
• Nomination facility
  Nomination facility is available on the NRE account.
• Joint Account
  You can hold the account/deposit jointly with Resident Indians^{^^} as well as other NRIs.

^{^^} NRE / FCNR Accounts opened / held jointly with resident close relative (relative as defined in Section 6 of the Companies Act 1956), can be operated only on 'Former or Survivor' basis.

##Conditions apply

All foreign currency transactions through HSBC India are subject to Service Tax. Please Click here for details.

* Terms and Conditions apply. Please refer to the remittances section for more information.

** The term 'working days' refers to days that are bank working days in both USA and India.

^ Free debit card facility is only available to nominated family members who have been appointed as the Power of Attorney for an NR Account holder. Fees will be charged on the debit card held by the primary NR account holder. Please refer to the debit card sections in www.hsbc.co.in for details on debit card fees.

*** Indian tax information given herein is general and is not meant to constitute, and therefore should not be construed, as advice. The tax consequences are also based on individual facts and circumstances. As such, prior professional tax advice should be sought to fully understand and appreciate the Indian tax implications. We assume no obligation or liability of any nature whatsoever by issuing this document. For US Citizens and US Residents, if necessary, you should consult your tax advisor for questions regarding the US tax treatment of these deposits. If you are resident in any other country, you should consult your tax advisor regarding the tax treatment of these deposits in your country of residence.

^# A transaction fee is applicable for withdrawals from other bank ATMs or any ATM outside India. All cash withdrawals overseas must be strictly in accordance with the FEMA Regulations of the Reserve Bank of India. The aggregate expenses (i.e. through cash/traveller's cheques/your bank accounts) should not exceed the limit set by RBI, as prevailing from time to time.

NR Accounts and NRI Services are offered by The Hongkong and Shanghai Banking Corporation Limited in India (HSBC India) under the Reserve Bank of India Non-Resident Indian Program.

NR deposits are offered under the Reserve Bank of India program for Non-Resident Indians and are governed by the rules in effect from time to time relating to such programs, are subject to the sovereign risk arising from, and governed by the laws of, or any changes to the laws of India. NR deposits with the Bank in India are not insured by Federal Deposit Insurance Corporation (FDIC) of the U.S.A., nor by any other insurance company or corporation outside India and are payable only at the branch of the Bank in India where the deposit is made. Under current U.S. tax laws, U.S. citizens and residents are subject to tax on their worldwide income. You should consult your tax advisor for the U.S. treatment of income from these deposits.